China offers a wealth of opportunities

Great potential for domestic and foreign firms to team up: official

Chinese and foreign companies can achieve mutual benefits by deepening their cooperation and seizing development opportunities in the world's largest emerging economy, State Council Information Office Minister Cai Ming-zhao said on Friday.

China's growth has become an important driver for the world's development, and its prosperity can't be separated from the global economy, Cai said during his meeting with Jeffrey Bewkes, chairman and chief executive officer of Time Warner Inc, on the sidelines of the Fortune Global Forum in Chengdu, Sichuan province. The three-day event started on Thursday.

This is the first time that the forum, which gathers global business leaders, has been held in western China. The country has hosted the annual event three times, in Shanghai, Hong Kong and Beijing.

Cai urged Bewkes and other global investors to expand their businesses in the country's western region, as it has strong development momentum and market demand.

He stressed that China will keep its opening-up policies and provide a "fair, transparent, stable and effective investment environment" for foreign investors.

The Time Warner executive pledged to maintain cooperation projects with China and to communicate with the world to show the real face of the country's development.

In the first four months, non-financial foreign direct investment in China reached $38.34 billion, up 1.21 percent year-on-year, the Ministry of Commerce said. The figure suffered a 3.7 percent drop last year.

FDI in China consecutively accelerated for the three months to April. This is a sign that global investors recognize the new leadership's determination to continue with market-oriented reforms, and they also believe that the Chinese economy will keep its competitiveness in the coming years, analysts said.

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